ACH Federal will provide Web-based and customized automated clearinghouse processing services for Manhattan Beach, Calif.-based Beach Business Bank, the Chattanooga, Tenn.-based electronic payments provider announced on Aug. 3.
Beach Business’ customers now may collect payments online, make payments to vendors and deposit payroll funds into employee accounts, ACH Federal said in a news release. ACH Federal will provide the bank with a Web-based platform that securely processes ACH transactions for the bank through a terminal connected directly to the Federal Reserve system using the financial institution’s routing number, ACH Federal explained in the release.
Additionally, the Web-based platform complies with NACHA’s requirements for fraud prevention and includes a dual-file approval system for both parties to approve, multifactor authentication for login and data encryption software for all transactions, Craig Cotter, ACH Federal director of sales, tells PaymentsSource.
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